Penalty u/s 271AAB - surrender being made allegedly voluntarily ...

Case Laws Income Tax

August 3, 2019

Penalty u/s 271AAB - surrender being made allegedly voluntarily on the condition that no penal consequences would be visited upon the assessee - unilateral condition and belief of the assessee that no penalty would be levied has no legal sanction and has to be discarded.

View Source

← Previous Next →

Penalty u/s 271AAB - surrender being made allegedly voluntarily ...

Case Laws Income Tax

August 3, 2019

You may also like:

Penalty u/s 271(1)(c) was levied on additional income voluntarily offered in the statement recorded u/s 132(4). However, no reference was made to corroborative...

Penalty levied u/s 271AAB - Undisclosed income - Assessee has neither made any surrender of any undisclosed income during the search action nor the penalty has been...

Penalty u/s 271AAB - surrender of ₹ 50 lacs an account of any other discrepancy or irregularity - no such discrepancy or irregularity was found by the AO then the...

Penalty u/s 271AAB - undisclosed income in terms of clause (c) of explanation to section 271AAB - being a penal provision, the same must be strictly construed and in...

Penalty u/s 271AAB - Defects in the notice issued u/s 274 - CIT(A) reduced the penalty to 10% applying provisions of Section 271AAB(a) of the Act as against penalty...

Penalty u/s 271AAB - Addition u/s 69B - income shown suo-motto - additional income brought to tax by the Assessing Officer - none of the conditions for levy of penalty...

Nature of surrendered income - Penalty u/s 271 - it is not a case of voluntary surrender where the assessee has came forward and made a surrender statement. It is a case...

Penalty u/s 271AAB - there is no finding in the penalty order to this effect that undisclosed income so found and surrendered during the course of search falls under the...

Penalty u/s 271AAB(1A)(b) was levied for suo moto disallowance of personal expenses u/s 37 by the assessee in the return filed in response to a notice u/s 153A. The...

Penalty order u/s 271AAB for treating an amount included in the Return of Income as 'undisclosed income' was found unjustified. The Commissioner of Income Tax (Appeals)...

Penalty u/s 271AAB - discrepancy in stock - condition of Explanation(c) below section 271AAB(3) fulfilled - shortage of stock not accounted for by the assessee has been...

Penalty u/s 271AAB or 271AAA - non issue of notice u/s 274 read with Section 271AAB - corrigendum issued stating that Section 271AAA should be read as Section 271AAB -...

Penalty u/s 271(1)(c) - surrendered of the income - The assessee has nowhere disputed the said surrender being made under coercive circumstances or under compulsion....

Benefit of reduced penalty of 15% u/s 28(5) - Delay in payment of penalty due to Public Holiday - The appellant voluntarily paid the differential BCD and interest upon...

The key points are regarding the penalty imposed u/s 271D read with Section 269SS, and the issue of whether the penalty orders were time-barred. The Assessing Officer...

Quick Updates: